April 21, 2021

Institutional investors massively buy up bitcoin

Institutional investors massively buy up bitcoin

The average daily trading volume at Grayscale Bitcoin Investment Trust (GBTC) in November reached a record high from 2017.

Volume trading increased by 165%

Grayscale's Bitcoin Investment Trust (GBTC) averaged $245 million in November and rose more than 165% from the previous month, according to reports.The last autumn month was the best in the history of the fund, second only to December 2017, when the average daily volume reached $422.95 million.

Seven of the top 20 trading days were in November 2020, although the highest figures were still recorded in 2017.

Institutional investors massively buy up bitcoin

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As of early November, Grayscale Investments had assets worth more than $9 billion.The lion's share in this portfolio (over $7.6 billion) is held by Bitcoin (BTC).

In second place is Grayscale Ethereum Trust.Under his management are assets worth about $1.1 billion.These investments also look promising, given the bullish factors behind Ethereum (ETH), including the developer's promised rapid transition to the new Ethereum 2.0 protocol.

Grayscale massively buys up bitcoin

Shortly after the May halving of the bitcoin network, Grayscale Investments acquired almost 20,000 VTS.In September, the company bought more than 17,000 coins, so the total sizeExperts are confident that bitcoin will reach 449 thousand coins.record price highs in the coming 2021, so are ready to stock up on cryptocurrency now.

Also, according to the well-known analyst and blogger Plan B, companies PayPal, Grayscale and Square are preparing to replenish their bitcoin reserves.

Earlier, the investment company Guggenheim Partners announced that it wouldbuy bitcoins through Grayscale Bitcoin Trust.to the long list of Wall Street companies that have paid attention to the benefits of cryptocurrency assets.

Institutional investors massively buy up bitcoin

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